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Vietnamese parliament possible to ratify TPP in late 2016
Hanoitimes 14:04, 2016/07/05
The Vietnamese parliament will possibly ratify the Trans-Pacific Partnership (TPP) in late 2016, according to the National Assembly (NA)`s Committee for External Affairs on Tuesday.
The NA will ratify the pact after referring to the law on signing, joining and implementing international treaties, and considering other TPP-related issues such as the TPP's constitutionality and compatibility with Vietnam's legal documents, the possibility of enforcing the entire agreement or just part of the deal, and suggested revisions and supplements.
The parliament will issue a resolution to ratify the TPP which will approve Vietnam's joining in the pact and recognize the validity of the commitments that Vietnam will carry out, Vietnam's state-run news agency VNA quoted Ngo Duc Manh, Vice Chairman of the committee as saying.
Vietnamese parliament possible to ratify TPP in late 2016.
Vietnamese parliament possible to ratify TPP in late 2016.
In the coming time, ministries will be urged to coordinate with the committee as well as other organs of the NA to speed up the ratification, said Manh.
Twelve Pacific Rim countries, including Singapore, Brunei, New Zealand, Chile, the United States, Australia, Peru, Vietnam, Malaysia, Mexico, Canada and Japan, reached TPP in October 2015 after more than five years of negotiations.
Economic ministers of these countries signed the trade pact in New Zealand on Feb. 4, 2016.
The member states now have two years to complete domestic work for TPP ratification. The pact will take effect when ratified by parliaments of at least six signatory countries.
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